Wednesday November 8, 7:03 am Eastern Time
Press Release
Dataram Reports 47 Percent Earnings Increase in Second Quarter On 36 Percent Revenue Growth
Twelfth Consecutive Quarter of Year-Over-Year Earnings Increases
PRINCETON, N.J.--(BUSINESS WIRE)--Nov. 8, 2000--Dataram Corporation (NASDAQ:DRAM - news) today reported financial results for its fiscal second quarter ended October 31, 2000.
The Company reported a 47 percent increase in net earnings to $3.1 million or $0.31 per diluted share compared to $2.1 million or $0.22 per diluted share for the same period of the previous year. Revenues for the second quarter increased 36 percent to $39.9 million over the prior year level of $29.4 million.
Net earnings for the six month period ended October 31, 2000 were $5.9 million or $0.60 per diluted share, an increase of 64 percent over the same period of the previous year of $3.6 million or $0.38 per diluted share. Revenues were $77.9 million, up 54 percent compared to $50.6 million in the comparable period of the previous fiscal year.
In thousands, Second Quarter ended Six Months ended
except per share October 31, October 31,
amounts
2000 1999 %Gain 2000 1999 %Gain
Revenues $39,866 $29,386 36% $77,862 $50,550 54%
Earnings from
Operations $4,636 $3,245 43% $9,054 $5,612 61%
Net Earnings $3,051 $2,081 47% $5,931 $3,612 64%
Diluted EPS $0.31 $0.22 41% $0.60 $0.38 58%
Shares Outstanding
(diluted) 9,944 9,460 9,916 9,419
``Dataram's performance during the second quarter surpassed our expectations,'' commented Robert Tarantino, Dataram's chairman and CEO. ``Our products for Intel processor based servers, introduced last year, contributed significantly to our second quarter results, and the prospects for this part of our business are strong. Sales of our compatible products continued to exceed plan.''
Mr. Tarantino continued, ``This marks Dataram's twelfth consecutive quarter of increased year-over-year earnings. Increasing demands on information technology infrastructure present a high growth opportunity for our products, which offer a compelling solution to the needs of memory-intensive customers, including ISPs, ASPs and corporate users.''
``Our operating and net margins continue to expand,'' added Mark Maddocks, Dataram's CFO. ``As we enter our fiscal third quarter, we are encouraged by the strong demand for server memory.''
Dataram will conduct a conference call at 11:00 AM (EST) on November 8 to present its second quarter financial results and to respond to investor questions. Interested shareholders may participate in the call by dialing 800/497-7708 and asking to be connected to the Dataram conference call. It is recommended that participants call 10 minutes before the conference call is scheduled to begin.
The conference call can also be accessed over the Internet through Vcall at www.vcall.com. A replay of the call will be available approximately one hour after the completion of the conference call through Vcall. A replay can also be accessed via the telephone until 9:00 PM on November 9 by dialing 800/252-6030 (402/220-2491 for international callers) and entering the following code: 7274924.
About Dataram Corporation
Dataram Corporation is a leading provider of gigabyte memory upgrades for network servers. The Company specializes in the manufacture of large capacity memory for Compaq, Hewlett-Packard, IBM, Intel, Silicon Graphics and Sun Microsystems computers. Dataram, headquartered in Princeton, New Jersey, is celebrating its 34th year in the computer industry.
Additional information is available on the Internet at www.dataram.com.
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